Bitcoin casinos offer crypt currency owners a way to use such a currency to make payments at their site. Gambling online at Bitcoin casinos has been introduced in recent times. There are not many Bitcoin casinos but the ones that do exist are preferred by cryptocurrency owners. If you are looking for casino sites having a Bitcoin payment option in India, there are a few reputed ones where you can register and use this form of currency.
If you are wondering how to use Bitcoin or any other cryptocurrency at an online casino in India Bitcoin is not very different from using other forms of payment like Gpay casino or PhonePe casino. It is, however, a more secure way to pay than using a bank transfer or your credit card. That is mainly because you will need to link a BTC wallet with your account at a casino. Hence, you need not divulge bank account or card details as in other cases. All you need to do is enter your BTC wallet ID and confirm the transaction.
There are many international casinos that have a legal presence in India. They have also tied up with Indian banks that accept Bitcoin as a mode of payment. Hence, if you thought that you have very little way of using such an asset that you own, it is not so. In this article, we look into the advantages of making payments at the best Bitcoin casinos using cryptocurrencies. Also, we offer details on reputed AstroPay casinos that offer such a payment option.
Advantages and Disadvantages of using Bitcoin in Online Casinos
Before we look into the advantages or the transactional details of making payments at an online casino with Bitcoin let us know the unique features of this currency. It was the first digital currency launched in the virtual world which is decentralized and transfers through peer-to-peer networks. Transactions of this currency are noted on network nodes and on a distributed ledger system called a blockchain. It was invented in the year 2008 by Satoshi Nakamoto, a fictional character. It was then released as open-source software in the year 2009.
The currency is available for purchase at certain digital wallet platforms, the price determined by a speculative bubble that exists around such cryptocurrencies. Though these currencies have investment value, there are limited options for using such currencies in real-world transactions. However, many gambling domains have opened their doors to accepting cryptocurrencies as a method of payment. As a result, this has attracted many cryptocurrency owners to register at such sites.
While most retail merchants do not accept cryptocurrency for want of an established trading system, there are online platforms and digital communities which allow exchanges in such currency form. Hence, while most retailers cite high chargebacks, scalability issues as well as lengthy transaction timelines as the reason for the non-acceptance of cryptocurrencies, the same are done away with in gambling domains. The casino sites that do accept Bitcoin and other cryptocurrencies such as Ethereum and others allow transactions to take place instantly between digital wallet IDs.
Also, the high value of cryptocurrencies is given due recognition at these sites. Hence, when one is paying $100 or more in fiat currencies, the equivalent payment in Bitcoin or other cryptocurrencies is mere fractions.
Bitcoin casinos offer a more secure way to pay. You need not divulge your bank account or credit card number to make payment using this method. It simply requires your wallet ID to complete the transaction.
Bitcoins are decentralized currencies which means that authorities cannot freeze your account. That is because there is no regulatory authority that is central here. Hence, users at an online casino India Bitcoin remain in control of their money as well as the transactions.
Fast processing of payments. This is the other reason that cryptocurrencies have gained popularity in recent times. The best Bitcoin casinos will process your payment within minutes, whether you approve a deposit or seek a withdrawal.
Special offers for cryptocurrency holders. Many online casinos with Bitcoin will value this cryptocurrency or others by offering special bonus offers. There are promos where cryptocurrency coins are offered as well, showcasing the special value of these currency coins.
Bitcoin Valuation Can Be Volatile
Though this cryptocurrency has seen a long bull run its valuations are volatile. Unlike fiat currency values cryptocurrency valuations are more volatile since their demands can increase or decrease as well, also due to the limited number of such coins in circulation.
Though most online casino Bitcoin sites do not charge transaction fees certain sites might include the same. Hence it is important to check the terms and conditions before one proceeds.
Conversion Fees to Fiat Currencies
Those who wish to interchange crypto to fiat currencies once their winnings come in at an online casino with Bitcoin, usually lose some value as a conversion fee.
How to Withdraw and Depos Using Bitcoin?
Bitcoin casinos are several. Once you have identified one to register and gamble with this cryptocurrency, you need to ensure that you have created an account with a Bitcoin wallet. There are several such digital wallets. Many often open such wallet accounts to buy Bitcoin and keep it available for making transactions at Bitcoin casinos. These wallets offer several advantages such as instant online bank transfers. Once you have a Bitcoin wallet ready and funded you can then proceed to make a deposit at Bitcoin casinos:
Start by registering and validating your account on an online casino in India.
Once that is done you can then proceed to specify the method with which you wish to deposit as well as withdraw your wins. You need to visit the cashier section of your account on an online casino with Bitcoin.
When you choose the payment method of Bitcoin you would need to key in your BTC wallet details.
After the wallet is registered you can specify the amount you wish to deposit.
The funds usually get transferred within minutes as at AstroPay casinos.
Withdrawal of Your Winnings
Bitcoin casinos offer easy withdrawals for their members. The steps to do so usually are straightforward:
When you register at Bitcoin casinos you need to specify the method you wish to use for making a deposit or withdrawal. Usually, an online casino with Bitcoin will allow users to choose a Bitcoin or cryptocurrency wallet for making deposits as well as withdrawals.
Once you key in your BTC wallet ID and approve the details the transaction will take place.
Withdrawal timelines can differ among casino sites with Bitcoin; however, it usually happens within minutes; in order to be sure of the timelines, you should refer to the terms and conditions of the site.
Check to ensure that no processing fees are charged; there are Bitcoin casinos that make withdrawals happen fast and without processing fees.
Withdrawal with Bitcoin happens similar to digital wallets such as AstroPay casinos. It happens fast, is secure, and usually does not incur processing fees. Also, maximum withdrawal limits mostly do not apply.
Top Bitcoin Casinos
Best Bitcoin casinos in India are few but these offer peace of mind to players. Here we list the best Bitcoin casinos or betting sites that accept Bitcoin. Here we list their deposit and withdrawal limits at Bitcoin casinos:
Why use this deposit method?
Bitcoin casinos offer this as a deposit method which is secure and instant. Many offer special promotions to attract Bitcoin holders.
What are the advantages?
Security and fast transactions are distinct advantages at a Bitcoin online casino. To make deposits or withdrawals one simply needs to key in their BTC wallet ID. There is no bank account or credit card details divulged when you make payment with BTC.
What is the minimum deposit with Bitcoin casino?
The minimum deposit at a Bitcoin online casino is usually the same or slightly different in amount as in other fiat currencies. Also, withdrawal limits are often lower than other payment methods at such sites.
Does the online casino or the payment method charge a fee when making a deposit?
Usually, fees are not charged when you choose to deposit or make withdrawals with BTC at the best online casinos in India. However, one should check the terms and conditions at the site to be sure of the same.
Is it a safe deposit method? Would my personal information be safe?
Yes, this payment method is safe since no personal details such as card or bank account details are divulged when you make a payment using BTC.